In a report released yesterday, Dmitry Netis from William Blair maintained a Buy rating on Everbridge Inc (NASDAQ: EVBG). The company’s shares closed yesterday at $51.60, close to its 52-week high of $52.35.
Netis commented:
“We came away from the presentation incrementally more confident in the company’s ability to continue growing north of 30% over the next two years, while remaining committed to improving EBITDA (moving closer to breakeven) and breakeven to positive free cash flow . We believe the company’s platform approach provides significant up-sell opportunity of new applications (Everbridge now has 10 products on its platform) to its installed base of 3,800 customers as the company continues to invest in other products and acquire additional capability in the mass notification, incident management, IT alerting, and personnel safety and virtual security space.”
According to TipRanks.com, Netis is a 4-star analyst with an average return of 9.7% and a 54.9% success rate. Netis covers the Consumer Goods sector, focusing on stocks such as Ribbon Communications Inc, Acacia Communications, and Juniper Networks.
Currently, the analyst consensus on Everbridge Inc is Strong Buy and the average price target is $46.29, representing a -10.3% downside.
In a report issued on June 6, Canaccord Genuity also maintained a Buy rating on the stock with a $52 price target.
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The company has a one-year high of $52.35 and a one-year low of $21.56. Currently, Everbridge Inc has an average volume of 308.5K.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock.
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Everbridge, Inc. engages in the development of software solutions for critical event management and enterprise safety applications that automate and accelerate an organization’s operational response to critical events.
